Findlay Park Partners LLP Sells 251,255 Shares of Martin Marietta Materials, Inc. (MLM)
Findlay Park Partners LLP decreased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 31.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 538,560 shares of the construction company’s stock after selling 251,255 shares during the period. Findlay Park Partners LLP owned 0.85% of Martin Marietta Materials worth $117,541,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tributary Capital Management LLC raised its position in Martin Marietta Materials by 117.5% in the third quarter. Tributary Capital Management LLC now owns 13,700 shares of the construction company’s stock worth $2,454,000 after buying an additional 7,400 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in Martin Marietta Materials during the third quarter worth approximately $1,478,000. 1832 Asset Management L.P. acquired a new stake in Martin Marietta Materials during the third quarter worth approximately $13,630,000. Capital World Investors acquired a new stake in Martin Marietta Materials during the third quarter worth approximately $4,478,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Martin Marietta Materials during the third quarter valued at approximately $12,919,000. 97.23% of the stock is owned by institutional investors.
Martin Marietta Materials, Inc. (NYSE:MLM) traded down 1.668% during mid-day trading on Tuesday, reaching $227.865. 167,164 shares of the company traded hands. Martin Marietta Materials, Inc. has a 52-week low of $167.06 and a 52-week high of $244.32. The stock has a market capitalization of $14.31 billion, a PE ratio of 34.390 and a beta of 1.21. The stock has a 50-day moving average of $230.98 and a 200 day moving average of $223.45.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, May 2nd. The construction company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.05. The business had revenue of $791.70 million during the quarter, compared to analyst estimates of $729.28 million. Martin Marietta Materials had a net margin of 10.91% and a return on equity of 10.32%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. Equities research analysts expect that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 1st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Tuesday, May 30th. Martin Marietta Materials’s dividend payout ratio is currently 25.42%.
Several equities analysts recently weighed in on MLM shares. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. Stifel Nicolaus boosted their price target on Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Cleveland Research upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Citigroup Inc. started coverage on Martin Marietta Materials in a research report on Wednesday, March 29th. They issued a “buy” rating and a $245.00 target price on the stock. Finally, Stephens upped their target price on Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, May 4th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $229.29.
In other news, Chairman C Howard Nye sold 10,258 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $239.16, for a total value of $2,453,303.28. Following the transaction, the chairman now directly owns 143,038 shares in the company, valued at approximately $34,208,968.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anne H. Lloyd sold 6,472 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $238.73, for a total transaction of $1,545,060.56. Following the completion of the transaction, the chief financial officer now owns 69,941 shares in the company, valued at $16,697,014.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,121 shares of company stock valued at $4,332,440. 1.06% of the stock is owned by company insiders.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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